Issue related to section 185 of companies bill 2013
This query is : Resolved
13 December 2013
A Company has two directors those are not related in which one of whom loan are provided by company and that director transferred his whole shareholding to an unrelated person.then,whether any implication of section 185 of companies bill 2013 or any other provision of companies bill attract or not.
13 December 2013
Section 185 is now overruled by section 295 of the Companies Act, 1956 .
It does not matter that such director has transfer his shares to unrelated person or not.
It does not matter that such director has transfer his shares to unrelated person or not.
13 December 2013
So far as we understand, sec 295 of the Companies Act 1956 has been overruled by sec 185 and not the vice versa. Kindly elucidate.
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